NYCEDC And Lehman College Announce Launch of the Bronx Business Bridge Incubator in the West Bronx

New York City Economic Development Corporation (NYCEDC) and Lehman College today announced the launch of the Bronx Business Bridge, a business incubator housed and operated by Lehman College that supports traditionally underserved entrepreneurs as they grow their businesses and create jobs in the Bronx. In addition to providing affordable workspace for 30 entrepreneurs, the incubator will provide an array of management support and business services, including individualized business counseling, entrepreneurship mentoring programs, networking opportunities, workshops on marketing, legal and tax issues, panel discussions, an entrepreneurship speaker series, and loan application support. The Bronx Business Bridge is part of NYCEDC’s Low Income Fast Track Entrepreneurship Program (LIFT), designed to connect New Yorkers from low-income neighborhoods with opportunities to grow their business and help alleviate key challenges that prevent many from moving up the economic ladder.

"Bronx Business Bridge and our entire network of incubators across all five boroughs fill a void in New York City, providing New Yorkers with affordable workspace where they can hone their skills and innovative ideas," said NYCEDC President Kyle Kimball. "This business incubator in the West Bronx supports a traditionally underserved neighborhood, offering business counseling and mentorship to local entrepreneurs, and helping to bring greater opportunities to all New Yorkers."

“Whether it’s a ‘mom & pop’ shop, or a small tech startup with global ambitions, or a restaurant, or the dream of an innovative entrepreneur who has found an untapped market to service, the Bronx Business Bridge can be the vehicle that makes their entrepreneurial dreams a reality,” said Lehman College President Dr. Ricardo R. Fernández.

In the Fall of 2014, NYCEDC and Lehman College developed a Certificate in Entrepreneurship program, a six week business plan boot camp geared to help incubator applicants fine-tune their business plans and prepare for the incubator. The first Certificate Program ended in December 2014, with 16 participants receiving certificates and applying for space in the incubator. Applicants can apply to the incubator on a rolling basis, and new certificate programs will occur periodically over the next year, giving new entrepreneurs the opportunity to enter and join the incubator.

“The Bronx Business Bridge Incubator will be a great asset for aspiring entrepreneurs in the Bronx,” said New York State Senator Gustavo Rivera. “Not only will it provide Bronxites with the tools and resources that they need to help them successfully start their own business, but it will also help us to foster greater economic development and new jobs in our neighborhoods. I commend the New York City Economic Development Corporation and Lehman College for working to inspire and support Bronxites looking to make a lasting impact in business and their communities.”

The launch of Bronx Business Bridge marks the strengthening of New York City’s growing network of 16 business incubators launched to date, which comprise over 160,000 square feet of low-cost space across all five boroughs. Through this network, NYCEDC has helped provide training and growth opportunities to hundreds of start-ups and small businesses across a variety of sectors in New York City. Over 1,000 startup businesses supporting over 1,500 jobs have benefited from City-supported incubators, and these companies have raised approximately $170 million in venture funding. Some of these startups have already graduated from the use of incubators, opening their doors in market-rate spaces and continuing to expand and create jobs.

About NYCEDC

New York City Economic Development Corporation is the City's primary vehicle for promoting economic growth in each of the five boroughs. NYCEDC's mission is to stimulate growth through expansion and redevelopment programs that encourage investment, generate prosperity and strengthen the City's competitive position. NYCEDC serves as an advocate to the business community by building relationships with companies that allow them to take advantage of New York City's many opportunities. Find us on Facebook or follow us on Twitter, or visit our blog to learn more about NYCEDC projects and initiatives.

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